Paesano has been named in sixteen customer disputes that ended in a settlement.
Michael Frank Paesano (CRD#: 1557229) was registered as a broker with Morgan Stanley from 2011 until 2017. Previously, Paesano was registered as a broker with UBS Financial Services from 2005 until 2011.
Paesano has twenty-five disclosures on his BrokerCheck report; five customer disputes filed against Paesano were denied. Ten of Paesano’s customer disputes were filed in the last five years.
July 2020 Customer Dispute
- Status: Pending
- Allegations: Claimants allege, inter alia, excessive trading with respect to investments – July 2014 to December 2016
July 2020 Customer Dispute
- Status: Pending
- Allegations: Claimants allege, inter alia, excessive trading with respect to investments – July 2014 to December 2016
July 2020 Customer Dispute
- Status: Pending
- Allegations: Claimants allege, inter alia, excessive trading with respect to investments – July 2014 to December 2016
November 2019 Customer Dispute
- Status: Settled
- Allegations: Claimant alleges, inter alia, selling away with respect to investments – Jan, 2011-Dec, 2016.
- Damage Amount Requested: $5,492,162.00
- Settlement Amount: $850,000.00
March 2018 Customer Dispute
- Status: Settled
- Allegations: Claimants allege excessive trading and selling away, inter alia, with respect to investments. April 2013 – December 2016
- Settlement Amount: $145,000.00
March 2018 Customer Dispute
- Status: Settled
- Allegations: Client’s attorney alleges excessive trading and selling away, inter alia, with respect to investments. April 2013 – December 2016.
- Settlement Amount: $145,000.00
March 2018 Customer Dispute
- Status: Settled
- Allegations: Client alleges excessive trading, mismanagement of account per terms of written agreement, and alleges failure to notify him of changes in the trading strategy was tantamount to fraud. 01/01/2016-12/31/2016
- Damage Amount Requested: $332,304.76
- Settlement Amount: $89,774.79
October 2017 Customer Dispute
- Status: Settled
- Allegations: Time frame: 2010 to 2013 Amended Allegations: Claimants allege being defrauded through outside business investments.
- Damage Amount Requested: $575,000.00
- Settlement Amount: $58,000.00
October 2017 Customer Dispute
- Status: Settled
- Allegations: Claimant alleges, inter alia, excessive trading with respect to transactions in accounts – 2011 to 2016.
- Settlement Amount: $1,200,000.00
December 2016 Employment Separation After Allegations
- Firm Name: MSWM
- Termination Type: Discharged
- Allegations: Concerns related to employee’s exercise of discretion and investment strategy.
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The Sonn Law Group is currently investigating allegations surrounding Michael Frank Paesano. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.
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